I’m close to retirement age and worried about running out of money. Is there anything I can do?

While most Americans have big plans for their golden years, saving to get there can be a challenge. For many people, nothing is scarier than approaching retirement age without the money needed to live a comfortable, healthy life. But if you’re in a similar position, you don’t need to panic. Quraishi Law & Wealth can help you create the plan you need to get the most out of your retirement.

How We Can Help You Conquer Your Retirement Fears

If you’re running short on cash but are nearing retirement, you don’t always need to worry. Running short on cash before walking away from the workforce is a concern shared by tens of millions of Americans.

Here are three steps you can take to stretch your funds further:

• Minimize your taxes. If you’re relying on a 401(k) or traditional IRA to see you through retirement, you need to account for the tax penalties associated with account withdrawals. However, Quraishi Law & Wealth offers several different strategies to reduce these penalties, including rollovers and strategically spaced distributions.
• Manage what you already have. Before looking for new ways to invest and earn, take account of the assets you already own or control. Sit down with your wealth manager, list out your accounts and holdings, and discuss your options for reallocation. Similarly, decide whether your existing retirement plan needs adjustment. If you have a business, for instance, you may need to alter your sale or succession plan to reduce potential tax obligations.
• Minimize your investment costs. Wealth managers, financial advisers, and stockbrokers all charge a fee for their services and products. While wealth management professionals can help you relieve your pre-retirement stresses and pressures, you should not be paying more money than you can afford—let alone more money than a service is worth. However, this does not mean you have to settle for the cheapest option available. Instead, look for the least expensive option that is best for you.

Even though most people do, you shouldn’t have to worry about having enough money for retirement. No matter where you are in your career, Quraishi Law & Wealth can help you establish or optimize your saving strategy to get you the relief—and the money—you need.

Contact Us Today

Retirement planning doesn’t have to be difficult, and it doesn’t have to be stressful, either. Send Quraishi Law & Wealth a message online to put your fears to rest and begin building the retirement plan you deserve.